Virginia Code 15.2-5431.8: Issuance of certificate or charter
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The State Corporation Commission shall issue a certificate of incorporation or charter to the authority if it finds that the articles of incorporation conform to law. Upon the issuance of the certificate or charter such authority shall be conclusively deemed to have been lawfully and properly created and established and authorized to exercise its powers under this chapter.
Terms Used In Virginia Code 15.2-5431.8
- Authority: means an authority created under the provisions of this chapter or, if any such authority has been abolished, the entity succeeding to the principal functions thereof. See Virginia Code 15.2-5431.2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
2003, c. 643.